AMRI to acquire contract manufacturer for $110M

Albuquerque, New Mexico-based Oso Biopharmaceuticals Manufacturing LLC, a contractor manufacturer of injectable drugs, is being acquired by Albany-based Albany Molecular Research Inc. for $110 million in cash. Pending various approvals and other conditions, the deal is expected to close in the third quarter of this year.

“The acquisition of OsoBio is highly complementary to our finished does manufacturing business, and is consistent with our strategy to be the preeminent supplier of custom and complex drug development services and products to the pharmaceutical industry,” said William S. Marth, AMRI’s president and CEO.

Shares (Nasdaq: AMRI) were up 55 cents, or 3.48 percent, to $16.34 at noon.